With a vast amount of choice out there, motorists can often have a difficult choice in deciding whether to buy a brand new or used car. Each option has its own pros and cons, but did you know that for the majority of car drivers in the world, buying used is the more popular choice out of the two?
Let’s be honest with ourselves here; price is usually the major deciding factor when it comes to purchasing a car.
Not many people in the world can afford to buy a brand new car outright, and even though most new car purchases get their dream cars under some kind of finance plan, many people cannot afford the high cash deposit down-payments or the monthly instalments that must be paid for.
And if the payments are not made, they risk losing the car and still have to pay money towards the finance!
Used cars, on the other hand, are significantly cheaper to purchase and, as a result, finance plans on used cars don’t require such high deposits or indeed, high monthly payments.
When you buy a car from a trusted used car dealership such as Hilton Garage, you can generally find a reliable car that meets your requirements.
The beauty about this is the previous owners will have carried out any expensive major repair work, whereas if you bought a brand new car, not only will you have had to pay out for high finance costs but you’d also need to pay additional money to repair the car in the event of any major mechanical faults that need rectifying!
It’s common knowledge that all cars, regardless of make and model, are subject to depreciation. This ugly word refers to the process of a material object (a car in this case) losing value over a period of time.
People often lose as much as 40% of the value of a brand new car after owning their pride and joy for just 12 months! That’s a hell of a price hit to take, but luckily buying a used car means that you don’t have to worry about that so much.
Even if you aren’t too keen on buying an ‘old’ car, you can always purchase a car that’s say 2 or 3 years old; old enough to be considered “used”, but new enough not to require you getting your wallet out and spending vast sums of money repairing it!
Sometimes people have the money to buy a brand new car but they would rather buy a used one, not because they want to save money (the sensible reason that most used car buyers have) but because they want to get their hands on a particular car model or generation of car that is no longer in production!
Let’s face it; people have bought used cars in the past for stranger reasons!